Benefits Of Health Insurance

Listing Top Benefits of Medical Insurance in India

Here are the advantages of health insurance in India:

 

1. Hospitalisation Benefits - With a health insurance, policy you can avail of an important feature such as hospitalisation benefit which covers the costs incurred on seeking treatment like -

 

• In-Patient Treatment - The expenses resulting from hospitalisation for at least 24 hours including the cost of ICU, medicines, doctor’s charges, room rent, etc. are covered.

• Domiciliary Treatment - It covers the treatment that is taken at home under medical supervision. However, there is a limit on the amount and the number of days for which the benefit is provided.

• Ambulance Cover - The charges incurred on availing an ambulance due to a medical emergency are covered under the health plan.

• Pre & Post Hospitalisation - Pre and post-hospitalisation cover financially secure you against the expenses incurred before and after hospitalisation for a specific number of days.

2. Cashless Claims - With this facility, the insurer will settle the claim amount directly with the hospital and you won’t have to pay for the hospitalisation. However, you must seek treatment at one of the network hospitals associated with the insurer to enjoy the cashless facility.

 

3. Alternative Treatment - Many health insurance providers cover alternative therapies such as Ayurveda and homoeopathy, offering policyholders another treatment option. Thus, you can opt for alternative treatment under your health insurance without any hassles.

 

4. Convalescence Benefit - Also known as recuperating/recovery benefit, the convalescence benefit takes care of the ‘recovery expenses’ of the insured. Any additional costs that may arise due to the insured’s hospitalisation, such as the replacement of loss of income of the insured are indemnified under the plan.

 

5. Expenses of Organ Transplant - Expenses incurred on organ transplants are covered under healthcare plans in India. A lot of insurers cover the entire cost, while some have a limit on these expenses. So, do not forget to go through the sub-limits and terms mentioned in the plan.

 

6. Daily Hospital Cash- The daily hospital cash feature offers financial aid to take care of other hospitalisation expenses that aren’t covered under the plan. There are no restrictions applicable on the usage of this amount and it can be utilised as per your requirement. But not all health plans include this feature and may provide it as an add-on cover.

 

 

7. Attendant Allowance - Health insurance plans in India provide an attendant allowance to those adults who accompany the policyholder for the treatment. However, this benefit can be availed only if the insured is a child. Additionally, the attendant allowance is offered for a fixed number of days only.

 

8. Dental Treatment - Most insurance providers offer coverage against dental treatments taken once every few years. Since the cost of dental treatment is pretty high, this cover can prove beneficial in the long run.

 

9. Free Health Check-Up- Many health insurers offer free health check-ups to policyholders after completing a certain number of claim-free years. You can now avail of cashless check-ups in case you take the medical treatment from a network hospital.

 

10. Additional Coverage - Finally, yet importantly, you can enjoy many other benefits of this insurance by opting for add-on covers available at an additional but affordable premium. These include air ambulance coverage, vaccination expenses cover, pregnancy insurance, coverage for newborns, etc. to name a few.

 

11. Tax Benefits - This insurance enables you to prioritise your health while saving money on taxes. That’s right! You can claim the premiums paid towards insurance under Section 80D of the Income Tax Act, 1961. If you or your parents are under 60 years of age, you can claim a maximum deduction of ₹25,000. But if you or your parents are over 60 years of age, the maximum amount of ₹50,000 can be claimed.

 

12. Refill the Sum Insured Amount - The feature enables you to refill your sum insured if you have exhausted the existing limit. The benefit of refilling your sum insured is available for unrelated ailments only. It is ideal for people who protect the entire family under one plan with family floater policies.